Can I retire at age 61 with 285,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $285,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$23,535$23,325$23,121$22,921$22,726$22,452
2 years$11,651$11,434$11,224$11,020$10,822$10,546
3 years$7,690$7,472$7,262$7,061$6,866$6,596
4 years$5,710$5,493$5,285$5,087$4,897$4,636
5 years$4,522$4,307$4,102$3,907$3,723$3,471
6 years$3,731$3,517$3,315$3,125$2,945$2,704
7 years$3,166$2,953$2,755$2,569$2,395$2,165
8 years$2,742$2,531$2,336$2,155$1,987$1,766
9 years$2,413$2,204$2,012$1,836$1,674$1,463
10 years$2,149$1,943$1,754$1,582$1,426$1,225
11 years$1,934$1,730$1,544$1,377$1,226$1,035
12 years$1,755$1,552$1,371$1,208$1,063$881
13 years$1,603$1,403$1,224$1,066$927$754
14 years$1,473$1,275$1,100$947$812$648
15 years$1,361$1,165$993$844$715$560
16 years$1,263$1,069$901$756$632$485
17 years$1,176$984$820$679$561$422
18 years$1,099$910$748$612$498$367
19 years$1,030$843$685$553$444$321
20 years$969$783$629$501$397$281
21 years$913$730$578$455$355$246
22 years$862$681$533$413$318$216
23 years$816$637$492$376$286$189
24 years$774$597$455$343$257$167
25 years$735$560$421$314$231$147
26 years$699$526$391$287$208$129
27 years$666$495$363$262$188$114
28 years$635$467$337$240$169$100
29 years$607$440$314$220$153$88
30 years$580$416$292$202$138$78
31 years$555$393$273$186$125$69
32 years$532$372$254$171$113$61
33 years$510$352$238$157$102$54
34 years$490$334$222$144$93$48
35 years$471$317$207$133$84$42
36 years$453$301$194$123$76$37
37 years$436$285$182$113$69$33
38 years$419$271$170$104$62$29
39 years$404$258$159$96$57$26
40 years$390$245$149$88$51$23
41 years$376$234$140$82$47$20
42 years$363$223$131$75$42$18
43 years$350$212$123$70$38$16
44 years$339$202$116$64$35$14
45 years$327$193$109$59$32$12
46 years$317$184$102$55$29$11
47 years$306$175$96$51$26$10
48 years$297$167$90$47$24$9
49 years$287$160$85$43$21$8
50 years$278$153$80$40$20$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $285,000, adding $6,459 every year, while hoping to spend $21,447 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 79/10/11 Blend
60$285,000$285,000$285,000$285,000
61$320,732$305,627$301,210$344,933
62$330,628$297,784$288,481$353,906
63$340,814$288,837$274,607$360,322
64$351,297$278,710$259,527$366,738
65$362,085$267,322$243,176$373,144
66$373,184$254,588$225,489$379,531
67$384,601$240,416$206,396$385,886
68$396,344$224,709$185,824$392,197
69$408,419$207,368$163,696$398,452
70$420,832$188,283$139,935$404,635
71$433,590$167,342$114,456$410,731
72$446,699$144,425$87,173$416,723
73$460,166$119,405$57,996$422,592
74$473,994$92,147$26,831$428,318
75$488,190$62,512$0$433,881
76$502,759$30,348$0$440,012
77$517,704$0$0$449,339
78$533,029$0$0$459,193
79$548,736$0$0$472,715
80$564,827$0$0$486,566
81$581,304$0$0$500,747
82$598,165$0$0$515,259
83$615,410$0$0$530,099
84$633,034$0$0$545,264
85$651,035$0$0$560,751
86$669,404$0$0$576,553
87$688,135$0$0$592,664
88$707,214$0$0$609,072
89$726,630$0$0$625,767
90$746,366$0$0$642,734
91$766,402$0$0$659,955
92$786,715$0$0$677,410
93$807,276$0$0$695,074
94$828,055$0$0$712,921
95$849,015$0$0$730,917
96$870,112$0$0$749,024
97$891,297$0$0$767,201
98$912,515$0$0$785,397
99$933,702$0$0$803,558
100$954,785$0$0$821,620